McDonald's is moving too fast and too slow at the same time. That and more of the top money stories you need to know today.
McDonald's (MCD) says it has rolled out new menu items too quickly this year, which has created challenges in its kitchens and slowed service. A trade publication that tracks the time it takes to get your drive-through order says McDonald's has slowed to slowest pace in at least 15 years. In response, the company says it will invest more to improve the assembly process.
Comcast (CMCSA) reportedly plans to start selling movies right through the cable box. They'll probably sell for $15 to $20 apiece, and new releases would be available as soon as they leave the theaters. This could be great news for Hollywood studios, which have been trying to find a way to offset the big drop in DVD sales in recent years. Verizon (VZ), which has a much smaller base of video subscribers with its FiOS network, already offers a similar service.
The Dow Jones Industrial Average (^DJI) gained 54 points yesterday, the S&P 500 (^GPSC) rose 8 –- both ending at record highs yet again -- and the Nasdaq (^IXIC) added 7 points.
At about this time each quarter, big investors are required to disclose their major holdings. Warren Buffett's Berkshire Hathaway (BRK.A) took a $3.5 billion stake in Exxon Mobil (XOM). That makes it one of his biggest holdings.
FedEx (FDX) was a popular buy for some big money guys. Daniel Loeb, Leon Cooperman and John Paulson all bought stakes in the package delivery company.
And the FCC has released its first smartphone app. It allows users to see if your mobile device can upload and download at the speed promised by wireless companies. The program is free, but only works on Android devices right now. An iPhone version is in the works.
-Produced by Drew Trachtenberg